IBMO vs. GUMI

Last updated Jun 5, 2026

IBMO (iShares iBonds Dec 2026 Term Muni Bond ETF) and GUMI (Goldman Sachs Ultra Short Municipal Income ETF) are both Municipal Bonds funds. IBMO is passively managed, while GUMI is actively managed. Over the past year, IBMO returned 2.78% vs 3.17% for GUMI. At a 0.04 correlation, their price movements are largely independent. IBMO charges 0.18%/yr vs 0.16%/yr for GUMI.

Performance

IBMO vs. GUMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO) and Goldman Sachs Ultra Short Municipal Income ETF (GUMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBMO achieves a 0.95% return, which is significantly lower than GUMI's 1.12% return.

IBMO

• 1D: 0.01%
• 1M: 0.17%
• YTD: 0.95%
• 6M: 1.30%
• 1Y: 2.78%
• 3Y*: 2.93%
• 5Y*: 0.67%
• 10Y*: —

GUMI

• 1D: 0.06%
• 1M: 0.25%
• YTD: 1.12%
• 6M: 1.35%
• 1Y: 3.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBMO vs. GUMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF	0.95%	3.11%	1.18%
GUMI Goldman Sachs Ultra Short Municipal Income ETF	1.12%	3.39%	1.52%

Correlation

The correlation between IBMO and GUMI is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Jul 26, 2024	0.04

Return for Risk

IBMO vs. GUMI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IBMO

IBMO Risk / Return Rank: 88
IBMO Sharpe Ratio Rank: 80
IBMO Sortino Ratio Rank: 89
IBMO Omega Ratio Rank: 87
IBMO Calmar Ratio Rank: 94
IBMO Martin Ratio Rank: 91

GUMI

GUMI Risk / Return Rank: 93
GUMI Sharpe Ratio Rank: 88
GUMI Sortino Ratio Rank: 94
GUMI Omega Ratio Rank: 93
GUMI Calmar Ratio Rank: 96
GUMI Martin Ratio Rank: 96

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBMO vs. GUMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO) and Goldman Sachs Ultra Short Municipal Income ETF (GUMI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	IBMO	GUMI	Difference
Sharpe ratio: Return per unit of total volatility	2.54	2.91	-0.37
Sortino ratio: Return per unit of downside risk	4.08	4.68	-0.60
Omega ratio: Gain probability vs. loss probability	1.53	1.64	-0.11
Calmar ratio: Return relative to maximum drawdown	7.38	8.90	-1.53
Martin ratio: Return relative to average drawdown	21.93	37.70	-15.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBMO vs. GUMI - Sharpe Ratio Comparison

The current IBMO Sharpe Ratio is 2.54, which is comparable to the GUMI Sharpe Ratio of 2.91. The chart below compares the historical Sharpe Ratios of IBMO and GUMI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IBMO	GUMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.54	2.91	-0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	3.32	-2.91

Drawdowns

IBMO vs. GUMI - Drawdown Comparison

The maximum IBMO drawdown since its inception was -14.77%, which is greater than GUMI's maximum drawdown of -0.48%. Use the drawdown chart below to compare losses from any high point for IBMO and GUMI.

Drawdown Indicators

	IBMO	GUMI	Difference
Max Drawdown Largest peak-to-trough decline	-14.77%	-0.48%	-14.29%
Max Drawdown (1Y) Largest decline over 1 year	-0.38%	-0.36%	-0.02%
Max Drawdown (3Y) Largest decline over 3 years	-1.76%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-8.86%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.32%	-0.05%	-2.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.13%	0.08%	+0.05%

Volatility

IBMO vs. GUMI - Volatility Comparison

The current volatility for iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO) is 0.19%, while Goldman Sachs Ultra Short Municipal Income ETF (GUMI) has a volatility of 0.25%. This indicates that IBMO experiences smaller price fluctuations and is considered to be less risky than GUMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBMO	GUMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.19%	0.25%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	0.83%	0.55%	+0.28%
Volatility (1Y) Calculated over the trailing 1-year period	1.10%	1.10%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.15%	0.99%	+1.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.52%	0.99%	+3.53%

IBMO vs. GUMI - Expense Ratio Comparison

IBMO has a 0.18% expense ratio, which is higher than GUMI's 0.16% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IBMO vs. GUMI - Dividend Comparison

IBMO's dividend yield for the trailing twelve months is around 2.39%, less than GUMI's 2.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
GUMI Goldman Sachs Ultra Short Municipal Income ETF	2.77%	2.95%	1.37%	0.00%	0.00%	0.00%	0.00%	0.00%
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF	2.39%	2.37%	2.15%	1.65%	0.89%	0.62%	1.03%	1.01%

Frequently Asked Questions

Can I hold both IBMO and GUMI in my portfolio?

IBMO and GUMI have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBMO or GUMI?

GUMI has higher volatility (0.25%) compared to IBMO (0.19%). In terms of maximum drawdown, IBMO dropped -14.77% vs GUMI's -0.48%.

Which ETF is better, IBMO or GUMI?

On 1-year performance, GUMI leads with 3.17% vs 2.78% for IBMO. On fees, GUMI is cheaper at 0.16% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBMO or GUMI?

Over the 1-year period, GUMI has performed better with a 3.17% return vs 2.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBMO or GUMI?

GUMI is cheaper with a 0.16% expense ratio, compared with 0.18% for IBMO.

Which ETF pays a higher dividend yield, IBMO or GUMI?

GUMI has the higher dividend yield at 2.77%, compared with 2.39% for IBMO.

What is the main difference between IBMO and GUMI?

They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.18% for IBMO and 0.16% for GUMI.

Which has better risk-adjusted returns?

GUMI currently has the higher Sharpe Ratio (2.91 vs 2.54), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.